Brian Grassadonia Sells 8,328 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the sale, the insider now directly owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Brian Grassadonia also recently made the following trade(s):

• On Wednesday, October 2nd, Brian Grassadonia sold 1,884 shares of Block stock. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44.

Block Price Performance

Shares of NYSE:SQ traded down $1.47 during trading on Monday, reaching $90.79. 11,098,508 shares of the company’s stock traded hands, compared to its average volume of 8,247,609. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The company has a 50-day simple moving average of $73.83 and a 200-day simple moving average of $68.07. The firm has a market cap of $56.27 billion, a PE ratio of 50.74, a P/E/G ratio of 1.24 and a beta of 2.48.

Institutional Trading of Block

Several institutional investors have recently bought and sold shares of the business. SouthState Corp lifted its position in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. True Wealth Design LLC raised its position in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. LRI Investments LLC acquired a new position in Block during the first quarter worth $34,000. Unique Wealth Strategies LLC purchased a new position in Block during the second quarter valued at $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Block during the second quarter worth about $44,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets lowered Block from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $94.00 to $100.00 in a research note on Monday. Finally, UBS Group decreased their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.46.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.